JC Penney CFO: Ron Johnson Isn't Going Anywhere

J.C. Penney Chief Financial Officer Ken Hannah insisted on Wednesday that neither he nor Chief Executive Ron Johnson has any plans to resign despite growing pressure on the company over its troubled turnaround record.

"I'm not resigning. Ron is not resigning," Hannah said during a presentation at a Bank of America Merrill Lynch conference, which was monitored via webcast. He added the turnaround would take "a lot more patience" from investors.